Rental agreement: everything you need to know

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When looking for a house to rent many times it is not known how to proceed or what are the conditions. If it is your case, you are sure to know everything you can about the rental agreement; we tell you.

What is the rental agreement?

A lease is a document detailing, in writing, an agreement reached by two parties, lessor and lessee.
In this one stipulates several points related to the rent of a house. This will be owned by one of the parties and will serve as a home, work place or another for the other party, who pays a monthly fee for it.

What should the rental agreement model include?

The lease model has undergone variations very recently. In essence, the essential points that we have to write in the documents of lease are:

  • The identity of both contractors. The personal data of the two parties must be taken into account equally; lessor and lessee. In addition, in the case of being a real estate agency that acts as an intermediary must also be indicated.
  • Identification of property. Of course, it will be necessary to indicate the address of the property as well as any other identifying information that has or must be recorded.
  • The duration of the agreement. The usual thing is to agree on a first year that can be extended. We develop this point later.
  • The agreed rent for the start of the agreement. A price must be negotiated between the parties and expressed in writing. With contract revisions you can, if both parties agree, renegotiate the figure. In addition, if the tenant has not complied with a clause or has caused a damage, it is possible to determine the increase in the quota.
  • Any special indication that you want to give. These should be included in differentiated clauses. If not, then there will be no option to claim of any kind. Failure to comply with these will, if desired, cancel the agreement, as both parties agree to comply.

Know what aspects of the lease you should know.

What is the duration of the rental agreement?

This is one of the points that are most questioned, especially on the part of the tenants, who do not know if they have the right to stay in the house as long as they want.

As we said, the duration of the usual lease is one year. Until 2013, four extensions could be made for another year each. However, since the adoption of 4/2013 and the reform of the mortgage law were carried out, these were reduced, being currently, and for legal purposes, two extensions to which a tenant can be accommodated, being able to stay in housing, at least, three years.

Of course, there are other types of lower time agreements; the most obvious example is the holiday rental. For example, renting housing in Sitges during the holidays is the most common, by far and obviously we can not establish a duration of one year in our clients’ contracts because we know it will not be so.

If you want to know a little more, do not miss this video. Gerardo Ruiz explains the duration of the lease:

Can the tenant rescind the lease?

Of course, the tenant has the right to terminate the contract in certain circumstances.

First of all we must say that this can happen at any moment, although, if there is no reason, it can be penalized by forfeiting, for example, the bond given, although the usual fee is to pay the remaining installments until six months have elapsed.

From the sixth month, we can cancel the contract if we give 30 days notice; this way no compensation will have to be paid.

If the minimum year has already passed and the extension is continued, it will be necessary to wait for the annual review, unless otherwise stipulated in any of the clauses.
Other assumptions in which the tenant can cancel this agreement is if the owner does not fulfill his obligations as to repair the corresponding damages.

For its part, the owner can do the same in the same circumstance.

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